Monday, July 12, 2010

Chinese credit rating agency rates the 50 biggest economies

Dagong Global Credit Rating released sovereign-debt ratings for 50 countries that account for 90% of the world's economy, in a move to break the credit rating monopoly of Moody's Investors Service, Standard & Poor's and Fitch Ratings. The Chinese firm gave the U.S. an AA rating, lower than the top AAA rating it assigned to Norway, Denmark, Luxembourg, Switzerland, Singapore, Australia and New Zealand.

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